Syon Capital LLC Buys Shares of 3,845 Fortive Co. (NYSE:FTV)

Syon Capital LLC bought a new position in shares of Fortive Co. (NYSE:FTV - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 3,845 shares of the technology company's stock, valued at approximately $288,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Whipplewood Advisors LLC acquired a new position in Fortive in the fourth quarter valued at about $31,000. Versant Capital Management Inc lifted its holdings in shares of Fortive by 186.8% during the 4th quarter. Versant Capital Management Inc now owns 456 shares of the technology company's stock valued at $34,000 after purchasing an additional 297 shares in the last quarter. Crews Bank & Trust acquired a new position in shares of Fortive in the 4th quarter valued at approximately $37,000. Albion Financial Group UT bought a new position in Fortive in the fourth quarter valued at approximately $38,000. Finally, Dakota Community Bank & Trust NA boosted its holdings in shares of Fortive by 28.6% in the fourth quarter. Dakota Community Bank & Trust NA now owns 786 shares of the technology company's stock valued at $59,000 after buying an additional 175 shares during the period. Institutional investors own 94.94% of the company's stock.

Analyst Ratings Changes

FTV has been the topic of several research reports. Citigroup cut their price objective on shares of Fortive from $84.00 to $69.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Truist Financial reduced their price objective on Fortive from $90.00 to $81.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. StockNews.com lowered Fortive from a "buy" rating to a "hold" rating in a research report on Monday, February 10th. Royal Bank of Canada upped their price target on Fortive from $77.00 to $85.00 and gave the stock a "sector perform" rating in a research report on Monday, February 10th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Fortive from $90.00 to $73.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Eight investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $81.92.

Insider Activity at Fortive

In other news, SVP Stacey A. Walker sold 5,688 shares of the stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $80.52, for a total value of $457,997.76. Following the transaction, the senior vice president now directly owns 47,141 shares of the company's stock, valued at $3,795,793.32. This represents a 10.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Charles E. Mclaughlin sold 32,085 shares of the firm's stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $78.86, for a total transaction of $2,530,223.10. Following the sale, the chief financial officer now owns 76,126 shares of the company's stock, valued at approximately $6,003,296.36. This represents a 29.65 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 243,385 shares of company stock worth $19,508,529. Company insiders own 1.01% of the company's stock.

Fortive Stock Performance

FTV stock traded up $0.23 during trading hours on Tuesday, reaching $69.04. The stock had a trading volume of 2,003,256 shares, compared to its average volume of 2,354,512. The stock has a 50-day simple moving average of $72.08 and a 200 day simple moving average of $75.43. Fortive Co. has a fifty-two week low of $60.39 and a fifty-two week high of $83.32. The stock has a market capitalization of $23.47 billion, a PE ratio of 29.25, a price-to-earnings-growth ratio of 2.68 and a beta of 1.12. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.16 and a quick ratio of 0.91.

Fortive (NYSE:FTV - Get Free Report) last issued its earnings results on Friday, February 7th. The technology company reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.05. Fortive had a net margin of 13.36% and a return on equity of 13.15%. During the same period in the prior year, the company posted $0.98 earnings per share. Analysts predict that Fortive Co. will post 4.05 EPS for the current fiscal year.

Fortive Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Wednesday, April 30th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date of this dividend is Friday, May 30th. Fortive's payout ratio is presently 13.56%.

Fortive Company Profile

Fortive Corporation designs, develops, manufactures, and services professional and engineered products, software, and services in the United States, China, and internationally. It operates in three segments: Intelligent Operating Solutions, Precision Technologies, and Advanced Healthcare Solutions. The Intelligent Operating Solutions segment provides advanced instrumentation, software, and services, including electrical test and measurement, facility and asset lifecycle software applications, and connected worker safety and compliance solutions for manufacturing, process industries, healthcare, utilities and power, communications and electronics, and other industries.